Do you have more than one car in your household?
If the answer is “yes,” my new article makes must reading. You see, if you consult the tax code, you’ll discover that you can score some hefty tax deductions by using more than one vehicle for business.
What exactly does the IRS have to say about multiple vehicle use? How can you save money by driving more than one car?
You’ll find the answers when you read my latest article titled Tax Tips: Test Your Tax IQ: Deducting More than One Business Vehicle.
Three ways our fact-filled article can help you:
- You’ll be able to test your “Tax I.Q.” First, we’ll tell you about Mel Practess, an attorney who drives his own car for business as well as his wife’s vehicle. Then we’ll ask you a question about which tax deductions Mel is entitled to. You’ll see for yourself if you know the right answers when you read the full article.
- We’ll tell you about important IRS publications 463 and 4562. No! You don’t have to plow through these documents. (We’ve already done all the hard work!) But you should know about what the IRS has too say about multiple-vehicle use. We’ll outline the key points when you read the full article.
- You’ll learn what the courts have to say about the subject. Acceptance of the multiple-vehicle strategy has come from the IRS and also from the courts. In fact, there have been at least three cases in which a tax court has upheld a taxpayer’s right to claim business deductions on more than one vehicle during the same tax year. You’ll get the whole story when you read the full article.